3 forms of payment history…

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  • #64364

    I just looked it up and it says that Austin Energy is owned by the city of Austin. I’m glad I don’t live where you live…

    #64386
    Emerald1516
    Member

    I have lived in a bunch of city/states and have NEVER had gas, electric, internet reported to my credit reports. I have also had Verizon before and Tmobile and they NEVER reported to my credit reports either.

    I will also say that around our babies being born things got crazy and my husband forgot to pay the electric bill, he eventually paid the electric bill a full 16 days late. We were all worried about it messing us up for NACA. It hasn’t. Electric Co. charged us a $5.00 late fee. My mortgage counselor has told me it is fine. I do however have car note, credit card, and 4 students loans on my actual credit report (all never late). So I do not need to use an alternate proof of credit history. I did not even have to turn over that late bill it was 11 months ago.

    For most utility and cell phone providers the only reason they would report to credit bureau is if you are VERY late. I am not talking 16 days I mean like months past due.

    #64445

    @emerald1516 so it sounds like they did not require 12 months worth of utility bills from you… okay, well I guess I’m not going to stress about that yet. Hopefully I’ll be okay.

    #64456
    Peapod0609
    Member

    You don’t need utility bills at all unless you don’t have enough of a credit history with your main trade lines. I know NACA requires 3 main trade lines, some people might not have 3 without counting utilities, so you can use utilities as a trade line.

    #64469
    TTrumble
    Member

    Hello all,

    Somtehing Emerald1516 wrote really gets to the heart of all this:

    “I will also say that around our babies being born things got crazy and my husband forgot to pay the electric bill, he eventually paid the electric bill a full 16 days late. We were all worried about it messing us up for NACA. It hasn’t. Electric Co. charged us a $5.00 late fee. My mortgage counselor has told me it is fine.”

    The point being that NACA looks for reasons to get you QUALIFIED, NOT DISQUALIFIED.

    Gee, things got crazy when children were born! Who woulda’ thunk it? 🙂 (BTW, you used the word babies [plural]. Do you have twins like I do?)

    That very clearly qualifies as a mitigating circumstance. Plus it was only once. And we’re all human, so we make mistakes every so often no matter how hard we try. So with nothing more than a Letter of Explanation, it became a total non-issue.

    This is why your counselor is there, why everyone needs to follow the rules and guidelines of the NACA program and especially the advice and direction of their counselor. It’s all geared toward guiding you to that qualification and eventually the closing on your new home. Way too many people get obsessed with why they might not get qualified, when our objective and our job is exactly the opposite. Even when there are bumps in the road, your counselor is there to show you how to get past them.

    Just hang in there, don’t let it go to your head, and follow your counselor’s lead. You’ll be fine.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    P.S. Emerald 1516, call the electric company, tell them you’re in the process of buying a house, and ask them to reverse the late fee as a courtesy. They will say yes almost every time, especially if it’s just a one-time occurrence.

    #64563
    Emerald1516
    Member

    @ttrumble YES! We have twins and it indeed was a whirlwind in the final stretch of pregnancy and bringing home our little babies. High-five fellow twin parent!

    We are so excited to be moving along in the process to find a forever home for our littles.

    #64584

    Funny, I also have twins 😀 Mine are 13 now.

    #64596
    Emerald1516
    Member

    Hey fellow twin Mama! What a fun coincidence… Mine are 15 months now they and doing great!

Viewing 8 posts - 16 through 23 (of 23 total)
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